DeVry-Acct 346 Final Exam Fall 2015 - Grading Summary These...

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Grading SummaryThese are the automaticallycomputed results of your exam.Grades for essay questions, andcomments from your instructor, arein the "Details" section below.Date Taken:10/24/2015Time Spent:2 h , 54 min , 35 secsPoints Received:232.50 / 250 (93%)Question Type:# Of Questions:# Correct:Multiple Choice54Short9N/AGrade Details - All QuestionsPage:12Question 1.Question :(TCO 4) Assumptions underlying cost-volume-profit analysis include allof the following, except:Student Answer:all costs can be divided into fixed and variable elements.total variable costs are directly proportional to volume over therelevant range.selling prices are to be unchanged.sales price is the only relevant factor affecting cost.InstructorExplanation:a change in volume is the only factor that affects costs.
Points Received:5 of 5Comments:Question 2.Question :(TCO 6) A basic assumption of activity-based costing (ABC) is that:Student Answer:All manufacturing costs vary directly with units of production.-857734918MultipleChoice3True0-857734918MultipleChoice3
Points Received:5 of 5Comments:Question 3.Question :(TCO 2) In a traditional job order cost system, the use of direct labor onjobs increases:Instructor-857734917MultipleChoice5True0-857734917MultipleChoice5
Explanation:Points Received:5 of 5Comments:Question 4.Question :(TCO5) Cost drivers are:-857734916MultipleChoice9True0-857734916MultipleChoice9
InstructorExplanation:Cost drivers are activities that cause costs to increase as the activityincreases. The cost driver is often non-financial.Points Received:5 of 5Comments:

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Final Exam, 2015, Acct 346

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